ME GROUP INTERNATIONAL PLC - Interim Results

To be informed of all ME GROUP INTERNATIONAL PLC's upcoming presentations, register at InvestorMeetCompany: https://www.investormeetcompany.com/m... 0:00 Introduction 3:49 Business at a glance 6:41 Financial Review 15:31 Business Review 20:25 Looking Ahead 22:12 Q&A ME Group International delivered a resilient first-half 2026 performance despite temporary headwinds affecting its legacy photo booth business, with continued strategic progress driven by rapid expansion of its high-growth Wash.ME laundry operations. Group revenue increased 0.3% year-on-year, while EBITDA rose 7.1%, supported by a 21% increase in laundry EBITDA and an improved EBITDA margin of 36.9%. Management highlighted strong execution of its growth strategy, including the installation of nearly 500 new laundry machines during the period, a landmark partnership with Asda that could ultimately see up to 700 Wash.ME units deployed, and ongoing trials with Aldi in Austria. Laundry now contributes almost 40% of vending revenue and nearly half of group EBITDA, underlining the business's successful diversification and recurring revenue focus. Although profit before tax declined due to softer April trading, reduced equipment sales, higher depreciation and prior-year one-off gains, trading recovered strongly in May and management remains confident of delivering revised FY2026 profit before tax guidance of £69m-£74m. The company also strengthened shareholder returns through dividends and share buybacks while maintaining a robust balance sheet and cash-generative business model. Looking ahead, ME Group expects to install approximately 1,300 net new laundry machines during FY2026, expand its Wash.ME app across all major markets, and continue investing in innovation, including next-generation photo booths and new ancillary services such as dog wash machines. Management reiterated confidence in the group's long-term growth strategy, supported by recurring revenue, operational leverage, geographic expansion and continued investment in its growing laundry estate.